let’s break down what capital flight, people leaving, government debt, and the gold bonanza mean. The libs are scratching their heads, but from a Marxist perspective, it isn’t a mystery. It’s just late-stage capitalism playing its greatest hits.

The billionaire class and their lackeys can read the balance sheet of their own system. They see that the profits have been squeezed out of us, the working class is tapped out, and the whole house of cards is wobbling. Hence why we’re seeing capital flight. They’re pulling their money out because the mobile nature of capital means they can park it in safer markets.

And the gold rush is just the bourgeoisie quietly admitting their entire financial system is built on hot air. They’re ditching liquidity for a physical asset that will hold value when the inevitable crash comes. It’s a massive vote of no confidence in the very system they built. We’re seeing a classic sign of over-accumulation with nowhere profitable left to invest.

Now, about the whole people fleeing abroad thing. The people who are leaving are those with the means to do so, namely, the workers who are still relatively well off. When even the so-called professional-managerial class, such as engineers and other tech workers, are getting priced out of a future and leaving, you know the system is failing. It’s obviously problematic since it’s a loss of talent, but at a deeper level, it’s a crisis of social reproduction for the most privileged group of workers. If the labour aristocracy can’t make it, what does that say about the rest of us in the proletariat? The canary in the coal mine has just packed its bags and fled the country.

And then we have the government’s role in all this. Our state is the management committee for the bourgeoisie, and it’s doing its job perfectly. All that government borrowing and quantitative easing was just socializing the losses of the capitalists during the pandemic, creating a massive bailout for them. Now comes the bill, and they’re handing it to us in the form of austerity. Here’s what PSAC says about Carney’s announcement of sweeping public service cuts.

They’re cutting public services to shred the social wage and force us deeper into reliance on the capitalist market, while funneling money into the military. The military needs to be kept happy in case of any social unrest that their austerity will cause, and to tie Canada tighter to US imperialism as the domestic economy rots. The money is going to cops, jets, and bombs instead of our healthcare or education.

We’re most likely headed for another 2008 style crash, and these crashes are themselves a feature of the system. They’re how capitalism resets itself by devaluing our labour, destroying excess capacity, and letting the big capitalists gobble up everything for pennies on the dollar. It’s the centralization of capital in its most brutal form.

And in the political vacuum that we have here, without a strong, organized socialist left to offer a real alternative, people get funnelled into the waiting arms of right-wing populism. They’ll blame immigrants, wokeism, or whatever scapegoat the ruling class offers to direct our anger away from them. We’re seeing it all over Europe, and it’s coming here hard.

The future for Canada is grim with the class war that’s heating up like never before. The capitalists are preparing for it with their gold, their capital flight, and their militarized state. The question is, are we? We need to build our own power, our own organizations, and our own vision for a world beyond this parasitic system.